Our outsource partners provide VAT Advisory, tax optimization, implementation, and training services in the UAE and throughout the GCC. Their team of senior qualified tax advisors, finance experts, and tax accountants will ensure a timely and cost-effective VAT services for SME’s. Additionally, their teams are available to perform VAT compliance (“filings”) and ongoing advisory services as your business grows and rules regarding VAT framework become more complex.

Our partners have developed a 4-step strategy assisting our clients to comply with regulation and even benefit from VAT rules.

Value Added Tax (VAT)
1st step: VAT Advisory services; understanding your business and the impact of VAT:
  • Identification and analysis of the VAT impact on your business
  • Outline the VAT registration obligations and steps for applying for a VAT registration number
  • Review and amendment of contractual arrangements with customers and suppliers
  • Analysis of IT system and accounting requirements
  • Ensure that business is structured in such a manner to avoid unnecessary cash outflow, or absolute VAT costs arising
 
2nd step: VAT Implementation:
  • Our partners will make sure that the relevant books and records are maintained in the appropriate and compliant manner
  • Ensure that the accounts payable function evidences the correct Input VAT
  • Ensure that the accounts receivable function understands when Output VAT should and should not be charged and it is accurately accounted for at the correct rates
  • Update of the invoice templates to ensure that all relevant information for VAT Invoices are included
  • Assist with the VAT registration with the relevant authority

For small SMEs, we can facilitate a set-up of a simple accounting systems and implementation of VAT rules, through our outsourced accounting services.
For larger SMEs, we can guide your finance team with the implementation and provide outsource CFO or Finance Manager services on a monthly basis in order to strengthen your existing team.

 
3rd step: VAT Training and Post Implementation Support:

We understand that change can be a difficult thing that is why we will deliver tailored VAT training for your teams to assist with the transition into VAT. Our specialist VAT advisory partners will also be on hand to provide post implementation support and guidance during the project to ensure all agreed deliverables are met.

4th Step: VAT Compliance:
  • Our partners can advise on the application of the rules, especially on available exemptions, VAT treatment of intra-GCC transactions, imports and exports
  • Preparation and filing the VAT returns
  • Assistance in claiming VAT refunds
  • Assessment of the VAT implications relating to: new business models, elaborated supply chains, asset purchases and transfers, M&A, etc.